Have YOU taken action on the
National Call To Action on
Homeowner Flood Insurance?
As you may know, last week NAR issued a Flood Insurance Call for Action in support of legislation that would delay the phase-out of federal flood insurance premium subsidies for owners of some types of properties.
The “Homeowner Flood Insurance Affordability Act” (H.R.3370 and S.1610) would give the Federal Emergency Management Agency (FEMA) time to resolve problems associated with changes in federal flood insurance premiums and undertake a statutorily required affordability study.
NAR Past President Moe Veissi testified before a House panel last week in support of the legislation saying, “Only the first round of rate changes have taken effect and already property owners and REALTORS® across the country are reporting dramatic increases [in flood insurance premiums] well beyond what was imagined and certainly beyond Congressional intent.”